Debt relief programs are specifically made for you if you have a large amount of personal debt (especially credit cards) that you cannot afford to ever really pay off on your own. It can leave you in better shape than bankruptcy by actually dealing with your debt problem head on. There are an abundance of programs available. Many of these programs offer a similar service, so what it really comes down to is what the genereal customer experience is, what services the program offers, and what kind of results you can expect.
National Debt Relief is currently our top pick. It offers relief from Credit Card Debt, Medical Bills, and Unsecured Loans
Freedom Debt Relief has been in business for a long time, and has very experienced debt negotiators.
Accredited Debt Relief promises "No Fees Until You Get Results" and is a solid choice to work with.
Clear One Advantage Claims to have a focus on ethics and integrity while helping you manage your debt.
National Debt Relief is an industry leader when it comes to helping you resolve your debt.
Freedom Debt Relief has been around for a long time and helped a record number of people settle their debts.
Accredited Debt Relief is a solid choice for helping you get your debts settled.
ClearOne Advantage is a rising star in the debt relief industry.
“Debt relief” is an umbrella term that could include a variety of professional solutions such as:
The best solution varies according to your individual situation. What's more, some options are not available or practical to all people. For instance, a debt consolidation loan at a low interest rate can be an effective tool for making your debt more manageable, but as you've probably already found out, it is difficult to get approved for a good loan while you are in massive debt, your income is over-extended, and your credit has probably likely already suffered.
So while a variety of solutions are available (with many people viewing bankrupcy as a last resort), most companies that brand themselves as "debt relief companies" focus on the debt settlement strategy since it does not depend on having a good credit rating.
While debt settlement can be an effective way to become debt free, it is actually something you can do yourself for free, without enlisting the aid of a third party company. However, because most people do not have the time to negotiate with creditors and lawyers (and wouldn't know how to do it effectively even if they had the time!), a debt relief company can do it for you, much in the same way you might hire a professional to file your taxes, fix your car, or even mow your lawn.
As you have probably already seen from looking at the different companies (whether they are featured on this website or not), most debt relief companies offer very similar things. That can make it seem like it doesn't matter which one you choose.
But like all financial matters, this decision should be taken seriously. You want to work with a reputable company with a good track record, so you can relax and assume that the people handling your debt will get you a good settlement deal and know how to deal with any unexpected hurdles that might arise.
Also, be sure you are educated about what a debt settlement actually is -- while getting a free quote or consultation, make sure to ask a lot of questions, and never sign up or commit to doing anything that you do not fully trust or understand.